ODDITY Tech (NASDAQ:ODD) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of ODDITY Tech (NASDAQ:ODD) from a hold rating to a strong sell rating in a report released on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on ODD. Weiss Ratings downgraded shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 target price on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Barclays decreased their target price on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price target for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Finally, Morgan Stanley dropped their price target on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Price Performance

NASDAQ ODD opened at $15.13 on Monday. ODDITY Tech has a one year low of $9.25 and a one year high of $77.83. The stock has a 50-day moving average of $13.02 and a 200 day moving average of $21.85. The company has a market capitalization of $871.19 million, a price-to-earnings ratio of 19.15 and a beta of 2.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last posted its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. ODDITY Tech’s revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, sell-side analysts forecast that ODDITY Tech will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,603 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $13.44, for a total transaction of $129,064.32. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at approximately $1,044,408.96. The trade was a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its stake in shares of ODDITY Tech by 17.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after acquiring an additional 1,076,921 shares during the period. Morgan Stanley raised its stake in ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after acquiring an additional 525,481 shares during the period. Janus Henderson Group PLC lifted its holdings in ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after purchasing an additional 1,296,551 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in ODDITY Tech by 1.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock valued at $61,202,000 after purchasing an additional 16,747 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in shares of ODDITY Tech by 11.3% in the third quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock worth $85,773,000 after purchasing an additional 139,348 shares during the period. 35.88% of the stock is owned by hedge funds and other institutional investors.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.